Impact of coronavirus outbreak on Indian textile sector

Abstract

According to WHO coronavirus tracker, the novel virus COVID-19 has spread to an unprecedented 216 countries and territories as of March 27, 2020. The world is grappling with uncertainties and several countries have imposed restrictions that would severely affect the economic activities not just for now, but also for a prolonged period. After agriculture, textile sector is on the second rank. This sector is one of the oldest and it has accorded a big amount to the national economy, it gives about 15% of production value-addition, and about one third of our gross export earnings, it also serves employment to millions of people. It is a unique sector in this country. One of the finest and earliest that came into presence in India, it produces around 15% of total industrial production and contributes to 30% of exports and it is the second largest sector serving employment to Indian citizen after agriculture sector. Textile industry serves the most common requirement of citizens and of great importance, developing day-by-day and enhancing quality of Indian people. However, because of this Covid-19, this sector is at risk. The production, turnover, employment, export, everything has come down and it is very difficult to predict when things will revive in Indian textile sector. This paper is an analysis of the impact of Covid-19 on Indian Textile Sector.